Summary of From Great to Gone

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Rating

7 Overall

8 Applicability

7 Innovation

7 Style


Recommendation

The rules of “Fast Moving Consumer Goods” (FMCGs) are changing. Giant brand companies are now losing ground to more agile and innovative players such as Google, Amazon and Facebook. Strategic marketing experts Peter Lorange and Jimmi Rembiszewski present an eye-opening analysis that strips down known marketing approaches and traditional FMCG industry practice. They encourage you to close the “innovation gap” and engage directly with “postmillennium consumers.” Numerous examples, with an emphasis on European businesses and the tobacco industry, exemplify the authors’ concepts. getAbstract recommends this boisterous read to marketers and business leaders who want to challenge the status quo.

In this summary, you will learn

  • How “traditional Fast Moving Consumer Goods” (“FMCG”) companies struggle to retain market position,
  • How your firm can overcome the “innovation gap,” and
  • What strategies you can use to conquer the external and internal barriers to becoming a “Fast Innovating Consumer Goods” (“FICG”) company.
 

About the Authors

Peter Lorange, former president and professor of strategy at IMD, founded Zurich’s Lorange Institute of Business, where Jimmi Rembiszewski is a faculty member. Formerly, he was a marketing director with Procter & Gamble and British American Tobacco.

 

Summary

Good to Great to… Gone?

Consider the leading global brands in 2000: Marlboro, Colgate, Gillette, Sony, Shell and General Foods. Compare them to today’s leading brands: Google, Apple, Facebook and Amazon. These current winners are not “Fast Moving Consumer Goods” (FMCGs) companies; instead, these companies deliver new products at an accelerated speed.

The use of text messages, apps and social media has turned the mobile phones into an everyday consumer product. “Traditional FMCGs” face competition from technology-based companies that deliver innovative products quickly.

E-commerce companies are delivering the biggest growth in Europe and in North America. With the exception of luxury labels such as Cartier, Gucci and Hermès, consumer goods companies are losing market share and some must fight for their existence. When Jim Collins published Good to Great in 2001, he praised the success stories of traditional FMCGs. Although he has written several updated works, Collins hadn’t perceived the “innovation gap” dividing slow-moving FMCGs from fast-innovating, Internet-platform-based new companies; today, the title From Great to Gone seems more appropriate...


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